Friday, February 14, 2014

Arizona retains #2 ranking in value of mineral production in 2013

Arizona produced $7.540 billion in non-fuel minerals in 2013, including copper,molybdenum concentrates, sand and gravel (construction), cement (portland), and stone (crushed), according to numbers compiled by the USGS for the Mineral Commodities Summary 2014 which should be published by next month. The USGS graciously provided me the summary numbers to release in a speech today to the Arizona mining community.

Arizona maintains its status as the second biggest mineral producer in the U.S. behind Nevada, with $9.04 billion in production. Nevada's gold production increased by about 500,000 oz last year but it was offset by the significant drop in gold prices, resulting in Nevada's mineral production decreasing $2.2 billion. Arizona accounted for 10.16% of all non-fuel mineral production in the country.

The value of Arizona's mineral production in 2012 was $8.05 billion. The drop in 2013 is due mostly to a drop in commodity prices, particularly copper. [Right, copper prices over the last 5 years. Credit, Mineweb]

Thanks to Michael Magyar, Associate Director of the USGS National Minerals Information Center for getting the statistical data released in time for our use.